Seagen's stock plunges af­ter re­veal­ing a dis­ap­point­ing out­look for one of its core can­cer drugs

With sales up 38% last year com­pared to 2020, Seagen CEO Clay Sie­gall used the com­pa­ny’s Q4 call to high­light what he called an “ex­cep­tion­al year” for the team. But sev­er­al set­backs — in­clud­ing a dis­ap­point­ing out­look on one of its core can­cer drugs — left in­vestors shak­ing their heads.

Seagen’s stock $SGEN plunged more than 14% on Thurs­day, bring­ing the com­pa­ny’s mar­ket val­ue down a whop­ping $4 bil­lion.

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